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20121201
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is still being stunted by the election results, and the effects of superstorm sandy. joining us with the latest on that, bill dunkleberg, chief economist at the national federation of independent business. bill, in reading your findings, am i wrong to say you found that it really wasn't sandy, that it was the election results, and if that's true, how do we give -- can we give the president the benefit of the doubt in that maybe it just, the election results means that the cliff is front and center? the cliff would not have been front and center with romney because he would have probably just extended all the bush tax cuts, i think. so is it the election result that's causing this? and is it the president himself? or the gridlock that it's causing with republicans? >> i think you basically have it right. we spent billions of dollars and then woke up the day after the election and nothing had changed and i think that's the issue. because the management team couldn't reach agreement on how to deal with the problem that was coming up, so we were stuck with the same kind of managemen
of that is sandy. you can't disentangle it. i'm sure it would have been better if it weren't for the uncertainty. we saw how bad it was in the summer of '11 and it will be the same now. >> i very much agree with ian on this point, that the uncertainty is associated with the fiscal cliff is at least a percentage point on the fourth quarter. and could be more than that. it's just a lurking weight on the business sector. and if we are going to get this growth, i think we've got to have a little bit more certainty on taxes, on regulation, and the trajectory of fiscal policy going forward. >> what i hear you both saying, though, and you're talking about spending issue, and not worrying so much about that, but i also hear you saying it would be a big mistake to raise taxes. >> absolutely. yeah. >> but the top 2%, is that the least deleterious people to raise it on? >> yeah, it would be. but right now i'd prefer not to raise taxes on anybody. but if you're going to do it, then the people at the lowest propensity to consume -- >> you don't buy that small businesses fall under that? >> no, most small bus
being up. all of a sudden then, we had the impacts of sandy, a tragedy up in newtown, connecticut, and just a lot of other factors that just put a damper on the season. >> so, it is fair to say that it started better than it ended now. >> it started better than it ended. there was a lot of excitement around black friday. i mean it was almost like the super bowl. they have all this advertising, drag people out, it's the biggest event of the year come shopping, and then week after that we had the pro bowl. there was no excitement. there was no reason to come out shopping. so big bang, but it kind of waned as we went into the season. >> how much of the season is in the books now? i mean, what's still left to happen? >> there's a couple of big days still coming. i think this weekend is a big weekend as people redeem gift cards, go into the stores, exchange items for what they're looking for. hopefully get that add-on sale and people start to take advantage of the clearance sale, i would say, though, 95% of it is in the books. we've probably got some strong days ahead of us, though, th
Search Results 0 to 2 of about 3

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